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Jaitley introduces four GST bills in Lok Sabha
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SME Times News Bureau | 27 May, 2017
Union Finance Minister Arun
Jaitley on Monday introduced the Central Goods and Services Tax (CGST)
Bill, 2017, along with three other GST bills in the Lok Sabha.
The
CGST Bill will enable levy and collection of tax on intra-state supply
of goods and services or both by the central government.
Jaitley
also tabled the Integrated Goods and Services Tax Bill, 2017, which
provides for the levy and collection of tax on inter-state supply.
The
Goods and Services Tax (Compensation to States) provides for
compensation to the states for the loss of revenue arising on account of
implementation of the GST.
The Union Territory Goods and
Services Tax Bill, 2017, will enable levy and collection of tax on
intra-state supply of goods and services or both by the union
territories.
As the Finance Minister stood up to introduce the
CGST Bill, Congress member K.C. Venugopal raised a point of order and
said the bill was not part of the list of business. However, he added
that he was not opposing the bill's introduction.
Minister of
State for Parliamentary Affairs S.S. Ahluwalia said the bills were
approved late Friday night, and the Lok Sabha Secretariat was closed
during the weekend. He said the bills were uploaded on the government
website on Friday midnight.
Several opposition members, including
Congress leader Mallikarjun Kharge, All India Majlis-e-Ittehadul
Muslimeen leader Asaduddin Owaisi and Trinamool Congress leader Saugata
Roy opposed the way in which the GST bills were introduced.
Lok
Sabha Speaker Sumitra Mahajan said: "It (four Bills) was circulated (on
Saturday), but not listed in today's (Monday) list of business. I have
given the waiver."
The bills were later listed in a supplementary list of business on Monday.
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